The secret lies not in the number of deals they close, but in the average size of each deal. I’ve found that top salespeople sometimes average $1 million per sale, while the average salesperson in their industry may average just $100,000. In other words, the average salesperson has to close ten times more sales just to earn the same commission.
So, how can you close those monster deals to dominate your competition in sales? The best way to find yourself in that top one percent is to start closing way bigger sales at huge companies. Check out these five powerful steps to get started:
1. Don’t be afraid of “the big boys.”
The first step to selling to bigger companies is overcoming your fear. Many salespeople find large corporations intimidating, but they actually represent some of the easiest deals to close in B2B sales. Huge businesses often have the same problems your product or service solves for other customers–they simply need a larger version of your solution. Plus, big companies have a lot more money to invest. Push through that initial fear, and you’ll find that selling to big companies is completely doable.
2. Sell high up the food chain.
Big companies are full of people with fancy titles that were designed to either confuse or scare off salespeople. When in doubt, sell higher up the chain. Who is the single most important relevant prospect you can connect with? Start there. Stop selling to low-level managers. Instead, sell to directors, VPs, and even C-suite leaders. These are the people with the power to say yes. The worst thing that can happen is that a high-level employee sends you back down the chain–but even then, you just landed an introduction to a key decision maker from their boss!
3. Plan a prospecting campaign.
If you’re going to catch the attention of big companies, you have to move on from haphazard attempts at phone calls and emails. Instead, map out an organized campaign that is centered around packages you will FedEx to your prospect. Take some time to think of something of value you can send. It could be a special report, a unique sample, or an analysis specific to their company. Remember–because there’s a huge sale on the line, you can afford to invest serious time and money in capturing the attention of a single prospect. Make the most of this strategy by planning follow-up sales phone calls and emails around the packages you send.
4. Understand the decision-making process.
One challenge in selling to big corporations is that the decision-making process can be much more complex than that of a Mom-and-Pop operation. Even a high-level CEO may want buy-in from subordinates before committing to your product or service. If you don’t understand their process upfront, you’re committing sales suicide. Try asking one simple question: “What is your typical decision-making process for an initiative like this?” This is an extremely easy way to learn who needs to buy into your offer, allowing you to set up more successful sales meetings with the right prospects.
5. Get introductions to other areas of the organization.
Another advantage of selling to large organizations is that you can often sell to multiple divisions or departments within one company. Once you establish a relationship with one area of the company, it can be fairly easy to leverage that relationship and get into other areas. Ask new contacts to introduce you to others who could benefit from your product or service. Don’t wimp out on this, or you’ll miss out on huge opportunities. I’ve never met a salesperson who has lost business by asking for introductions–but most lose business all the time by not asking. The richest salespeople out there have all mastered this simple strategy.
Have you ever sold your product or service to a massive company? Which of these strategies did you find most useful in closing a bigger sale?